Reportedly, the average nickel spot prices at LME were at US$17,245.43/ton in October, up by 0.2% from US$17215.5/ton in September.
Meanwhile, the average nickel prices in three-month delivery were at US$17,305/ton, increasing by 0.1% from US$17,283/ton from a month ago.
It's learned that the LME nickel prices started to rise in September, driven by the US's monetary policy. However, the growth slowed down in October due to uncertain economy in China, the US and European zone.
In addition, the nickel inventories increased to 129,618 tons on October 31st from 123,858 tons on October 1st.